In 2023, Canada's climate change-related transport tax revenue stood at a certain benchmark. The projected data from 2024 to 2028 anticipate a steady increase in this revenue, with annual percentage increments fluctuating within a medium range. Specifically, from 2024 to 2025, the growth rate is approximately 2.23%, similar patterns observed in subsequent years with year-on-year increases. The compound annual growth rate (CAGR) calculated from 2024 to 2028 suggests an average growth of around 2% annually.
- Future trends to watch include potential policy changes in transportation regulation and carbon pricing, increased adoption of electric vehicles which may affect tax bases, and evolving public transportation investments, all of which may significantly impact expected tax revenues.
